The Canada Pension Plan Investment Board (CPPIB) has agreed to invest $600 million in the National Investment and Infrastructure Fund (NIIF), a fund manager that invests in infrastructure in India.
Under the agreement, CPPIB will funnel $150 million in the NIIF Master Fund and co-invest up to $450 million in future opportunities alongside the master fund. CPPIB will also become a shareholder in National Investment and Infrastructure Fund Ltd., NIIF’s investment management company.
CPPIB joins Abu Dhabi Investment Authority, AustralianSuper, Ontario Teachers’ Pension Plan, Temasek, Axis Bank, HDFC Group, ICICI Bank and Kotak Mahindra Life Insurance as investors in the NIIF Master Fund, alongside the Indian government.
“The opportunity to invest in, and alongside, NIIF complements our existing direct investment strategy in Indian infrastructure,” said Scott Lawrence, managing director, head of infrastructure at CPPIB. “Through this investment in the NIIF
